Cintas Corporation $CTAS Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its position in shares of Cintas Corporation (NASDAQ:CTAS) by 25.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,900 shares of the business services provider’s stock after selling 30,100 shares during the period. Forsta AP Fonden’s holdings in Cintas were worth $16,719,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Camelot Portfolios LLC acquired a new position in Cintas during the 4th quarter worth approximately $26,000. Key Capital Management INC acquired a new position in shares of Cintas in the 4th quarter valued at $28,000. Triumph Capital Management acquired a new position in shares of Cintas in the 3rd quarter valued at $29,000. Ares Financial Consulting LLC acquired a new position in shares of Cintas in the 4th quarter valued at $32,000. Finally, Aventura Private Wealth LLC acquired a new position in shares of Cintas in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a report on Thursday, March 26th. Citigroup lowered their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a report on Tuesday, March 31st. Weiss Ratings cut shares of Cintas from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Bank of America assumed coverage on shares of Cintas in a report on Tuesday, February 17th. They issued a “neutral” rating and a $215.00 target price for the company. Finally, Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $215.17.

Cintas Stock Down 1.0%

Shares of NASDAQ:CTAS opened at $171.26 on Friday. The stock has a market cap of $68.52 billion, a P/E ratio of 48.38, a P/E/G ratio of 3.02 and a beta of 0.96. The firm has a fifty day moving average price of $172.93 and a 200 day moving average price of $184.84. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $229.24.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. Cintas’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. Sell-side analysts predict that Cintas Corporation will post 4.89 EPS for the current year.

Cintas Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.1%. Cintas’s dividend payout ratio is currently 50.85%.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.90% of the stock is currently owned by corporate insiders.

Cintas Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.